The Memphis Grizzlies and Toronto Raptors have agreed in principle on a trade that will send leading scorer Rudy Gay to the Raptors, according to sources with knowledge of the deal.

Sources told ESPN.com that the Grizzlies will acquire forward Ed Davis and veteran guard Jose Calderon from the Raptors and then move Calderon on to a third team to ultimately make this a three-team deal.

The Detroit Pistons, sources said, are one of the prime options to take on Calderon, having pursued the Spanish floor leader all season.

The Grizzlies want a small forward out of the trade and Detroit has two believed to be available: Tayshaun Prince and Corey Maggette. But Memphis, sources said, is talking to at least one other team about taking on Calderon and is expected to receive a second-round pick from Toronto as part of the deal.

The Raptors, sources said, are expected to take on Grizzlies reserve center Hamed Haddadi in addition to Gay.

The Dallas Mavericks are the other most likely landing spot for Calderon, but sources said Dallas is resistant to parting with Vince Carter, Memphis' prime target on the Mavs' roster.